0000 GMT - ANZ gets a new bull at Morgan Stanley, where analyst Richard E. Wiles is increasingly confident in the bank's ability to improve productivity. Raising his recommendation on the stock to overweight from equal-weight, he tells clients in a note that he now expects ANZ's costs to decline over the current and next fiscal years. The bank's first-quarter earnings were about 8% stronger than MS had expected, and Wiles says he's now more constructive on the outlook for both capital and dividends. The stock's discount to peers still looks wider than normal, he adds. MS raises its target price 14% to A$41.30. Shares are flat at A$40.35. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

February 12, 2026 19:00 ET (00:00 GMT)

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